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COURSE: NEW PRODUCT INTRODUCTION
COURSE NUMBER : ROBI117
NAME OF PROFESOR
: Vik Murty
E-MAIL: [email protected]
Syllabus
A. General Information
Name
Code
Pre- requisites
Co – requisites
Credits:
Semester:
Number of sessions per week
Academic hours per semester
Teaching Assistant hours per semester
: NEW PRODUCT INTRODUCTION
: ROBI117
: Marketing I, Accounting, Finance
: Marketing II
: 10
: I 2016
: 1 (Lunes 6 y 7)
: 68
: 68
B. COURSE DESCRIPTION
New Product Introduction tackles the unique issues in corporate and entrepreneurial
environments with practical training in analysis and communication of concept, market,
strategy, and execution. Several topic-oriented seminars focused on New Product issues
and concerns will be included such as Opportunity Assessment, Brand Management,
Market Research, Pricing, Business Models, and Product Launch Plan.
COURSE OBJECTIVES
Conceptual level:
This course builds the construct and deals with the challenges and opportunities with
launching a new product or service. Topics are intended to have broad appeal to those
with interest in General Management, Marketing, Product Development, and
Entrepreneurship. Additionally, this course will deal with the uniqueness while
comparing and contrasting launching products both in a corporate environment and a
start-up environment. The curriculum is interdisciplinary and requires the mastery of
basic fundamentals of economics, finance, operations, accounting, and marketing.
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1. Utilize business and marketing skills to understand the challenges of creating
introducing new services and products and apply this understanding to effectively
manage a variety of new venture business settings
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2. Use the power of customer centric marketing to define nascent products/services
both in corporate and entrepreneurial settings and make a positive impact within a
company and in the marketplace
3. Define separate constructs for product generation, marketing, and communication
Procedural level:
1.Build a process that tackles a circumspect set of tasks and issues from Markets to
investors to Internal groups and provides the flexibility in a chaotic system to deal with
nascent product issues. Build a Product Launch Plan.
2.Define the product/service with customer centricity through research, thought
processes, and intuition
3.Learn to communicate new product strategies and execution with internal
management, investors, and the market. Learn to develop the right decision making unit
at the right point throughout the New Product Launch process
Attitudinal level:
1.-Appreciate and address the major types of problems facing the new product manager:
such as communicating and negotiating with marketing managers, general management,
product development, finance, and entrepreneurs with an emphasis on developing sound
strategy and effective tactical execution
2.- Understand the chaotic nature of nascent products and the need to create feedback
loops and flexibly but responsibly morph business model and product as information is
available.
3. Improve the ability to communicate complex issues in a clear, concise and
compelling manner.
Contents:
1. First unit: Cross-functional Foundations
Conceptual:
  Define Marketing broadly as a function across an organization
  Define the Product Process Construct
  Define the Marketing Construct
 Communications strategies for strategic storytelling
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Procedural:
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
Develop a target-oriented intuition that helps the students make memorable
emotionally driven point(s)

2. Second unit: Business Model Design
Conceptual:
  The power of customer centric vantage point in defining products
  Diffusion principles of word-of-mouth especially in new era of social media
 New business model and product creation
Procedural:
  Analyze and define customer needs



Identify customer segments as the first and important step in successful new
product introduction (can be counter-intuitive)
Build a canvas for new product introduction

3. Third unit: Customer Centricity: segmentation, target market selection and
positioning
Conceptual:
  Differentiate between market segments and personify
 Establish a positioning strategy for brands and products
Procedural:
  1. Define product
  2. Apply the segmentation variables to create segments, personify, and target

3. Align the positioning strategy with the differentiation efforts of the new
product offering and morph product offering

4. Fourth unit: Opportunity Assessment
Conceptual:
 Understand how to identify and evaluate an opportunity
 GO/NO GO and STOP
 Strategy tools to identify and define opportunity and adjust as necessary
 Balancing Passion vs. Flexibility
Procedural:


Analyze markets
Utilize tools to identify and communicate opportunities

5. Fifth unit: Brand Management
Conceptual:
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
Basic brand definition principles
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






Understand the relationship between corporate and brand strategy
Understand Brand Architecture vs. Brand Valuation
Understand the importance of effective brand management for new products and
consequences of poor management
Identify positives and negatives of a launch within existing brand vs. new brand
Procedural:
  Brand mapping
  Developing a brand architecture
 Create a messaging structure and apply to new product space


6. Eighth Unit: Pricing Strategy
Conceptual
  Basic pricing dynamics for new products
  Know the different techniques for establishing a price
  Understand the difference between value-based pricing and other techniques
  How to deal with changing segments and pricing models
  Specific new product challenges driven by technology pricing
 FREE!
Procedural



Identify when to use various pricing and promotional techniques such as free, gift with
purchase, trial, subsidy (Gillette model), and bundles
Be able to establish a price(s) for a new product or service

7. Ninth Unit: Product Development and Road Map
Conceptual



Know the characteristics of new products in the context of product road map

Understand the difference between product iteration, differentiation, and
introduction
Identify people within an organization that have vested interests and concerns
about new product launches

Procedural


Be able to create and present a product road map for various roles

Use techniques and messaging to influence and position new products internally as
well in the marketplace

8. The Product Launch Plan
Conceptual




Know the characteristics and ingredients of a Product Launch Plan
Managing, evaluating, and refining launch plans managing risk and uncertainty
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
Executing and course correcting and redefining products, iterations, or new categories
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Procedural
  Create, evaluate, and communicate launch plans
 Beginning to end launch plan in groups of real products
Attitudinal objectives for all New Product Launch plans:
  Encourage analytical thinking and written/oral English skills.


Manage proficiently both the strategic elements and the tactics of execution of
elements.

Value successful and unsuccessful product launches studied on each of the case
analyses that will ultimately allow students build a strong intuition and ability to
execute.
ASSIGNMENTS PREPARATION GUIDELINES
It is advisable to start working on the case studies/videos only after having completed
the related reading of the course material, since the assignments are related to the
chapter topics
E. COURSE METHODOLOGY
Various forms of learning will be used including lectures, business cases, and
potentially professional guest speakers. Readings in English will include textbook and
business literature excerpts. Current business events may be discussed as relevant.
Broadly, this class positions marketing a discipline writ large and gives students
practice of the ability to add value through customer centric vantage point for new
product definition, execution and evaluation.
All material presented in English.
Role of professor: to teach to acceptable professional standards such that student has
actionable capabilities conceptually and practically. To treat the class as if they are
stakeholders in a company, and evaluate incorporate student perspective and point of
view. The professor is the “facilitator” of student learning.
Role of student:
Be prepared: read the cases, read the assigned literature and notes, have questions ready,
challenge peers and professor courteously, build well prepared arguments.
Be aware: during this class look at life through the lens of a marketer in every
touchpoint with products – from a sip of bottled water to grocery shopping, to walking
shopping malls. Read, lots online. You can and should incorporate any external learning
and knowledge.
Be engaging: participate, voice yourself, don’t let “dead space” go useless as there are
lots of topics and interesting tangents to cover. Take active responsibility for your
learning.
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Papers, presentations, and communications are evaluated on completeness, clarity and
conciseness. Plenty of opportunity to hone these skills throughout the class. End of class
capability and growth are critically important.
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F EVALUATION
1.
2.
3.
4.
5.
Group Exercises: 20%
Cases and Class Participation (individual) 25%
Mid term (individual) 12.5%
Mid term 2 (group) 12.5%
Final exam: Product Launch Plan, group paper (less than five pages), brief, boards and
presentation 30%
G EVALUATION DESCRIPTION
Group Exercises [20%]
A few group exercises will contribute to this mark. Evaluation will be made based upon
success of the group AND upon individual contribution within group. Each group
member will “professionally and constructively” evaluate each other group member.
Time permitting, each group will “professionally and constructively” evaluate and
feedback each other group. Marks will also be dependent upon evaluation and
feedback.
Cases and class participation 25%
You are required to complete reading cases weekly during the semester; each case is
strategically selected to give you a practical perspective that should enable you to have
a marketing and managerial outlook on the situation that is being analyzed.
Each case due date is clearly noted in the week to week calendar and the weeks topic.
you do have the option to work in groups. Marks are based on individual remarks based
on depth, contextual understanding, originality, and evaluation/analysis.
There maybe case reports scheduled for certain weeks in lieu of discussion, but with
advanced warning.
Mid Term Exams [25%] total (I: Individual written, II: Group)
You are required to complete 2 in class Tests/Certamen as per the normal Subject
requirements that you are familiar with during each semester, these are designed to test
your understanding of the key concepts covered in each of the learning modules.
Task Length – Each test will have a maximum time length of 1 hour and 20 minutes,
but may require pre class prep (reading and prepping a case as an example).
Test 1 12.5%
Test 2 12.5%
Product Launch plan and presentation (Group) – 30%
This major project is a group task that deals with a new product or service. This
assignment is designed to encourage you to gain as many different perspectives as you
can, to work as a group and to develop communication skills. The written report on this
project should be no more than two pages (excluding appendices): executive brief. A
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title page (with student name, id number, and project title and a reference list must be
included. Use clear and concise language with exceptional clarity and please carefully
edit the assignment for grammatical and spelling errors. Imagine you are presenting to
your CEO.
In your group, you will work with a real product you support and create a Product
Launch plan with Product definition, Roadmap, Communication Plan, and Market and
Opportunity Understanding. For this project, ample class time will be provided with aid
from T/A and Professor to be equally distributed by group. All efforts should be made
to select a product that is real from a company that is accessible. All external research is
permitted and encouraged, maybe presented in time allotted, and incorporated into the
creation of the product launch plan.
During company/product selection early in the term, professor and t/a can aid with
possible contacts BUT the final responsibility of selection and research is lies with the
group.
Specifics regarding requirements and evaluation in more detail will follow post
midterm.
H TEXT AND MATERIALS REQUIRED
HBR
INDUSTRY
AND
BACKGROUND
NOTE
Hypothesis-Driven
Entrepreneurship: The Lean Startup
Thomas R. Eisenmann; Eric Ries; Sarah Dillard
Added on Dec 30, 2015 Details
HBR ARTICLE
Preparing for the Perfect Product Launch
James P. Hackett
Added
on Dec 30, 2015 Details
HBR CORE CURRICULUM READING
Marketing Reading: Segmentation and
Targeting
Sunil Gupta
Added on Dec 30, 2015 Details
HBR INDUSTRY AND BACKGROUND NOTE
Marketing Research
Fareena
Sultan
Added on Dec 30, 2015 Details
HBR INDUSTRY AND BACKGROUND NOTE
Market Segmentation, Target
Market Selection, and Positioning
Miklos Sarvary; Anita Elberse
Added on Dec 30,
2015 Details
HBR INDUSTRY AND BACKGROUND NOTE
Pricing, Profits and Customer
Value
Frank V. Cespedes; Benson P. Shapiro; Elliot B. Ross
Added on Dec 30, 2015
Details
HBR FORETHOUGHT ARTICLE
Why Most Product Launches Fail
Joan
Schneider; Julie Hall
Added on Dec 30, 2015 Details
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BOOK READINGS & EXCERPTS:
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create
Radically Successful BusinessesSep 13, 2011
by Eric Ries ( Required excerpts, recommended reading of full book)
Leading the RevolutionJul 30, 2002 by Gary Hamel (Required Excepts)
Beyond Bullet Points by Cliff Atkinson (Required excerpts, recommended reading of
full book)
Trading Up: Why Consumers Want New Luxury Goods--and How Companies Create
ThemApr 29, 2008
by Michael J. Silverstein and Neil Fiske (Required excerpts, recommended reading of
full book)
Purple Cow by Seth Godin (Required excerpts, recommended reading of full book)
Crossing the Chasm, 3rd Edition: Marketing and Selling Disruptive Products to
Mainstream Customers (Collins Business...Jan 28, 2014
by Geoffrey A. Moore (Required excerpts, recommended reading of full book)
HBS Cases will be assigned in advance
Optional reading list:
Killer Brands: Create and Market a Brand That Will Annihilate the Competition
Action Trumps Everything: Creating what You Want in an Uncertain WorldBook by Charles F. and
Kiefer, Leonard A. Schlesinger, Paul B. Brown
n
m3.8/5·AbeBooks
n
mn mOriginally
published: 2010
n
mAuthors: Charles F. Kiefer, Leonard A. Schlesinger, Paul B. Brown
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